FTX Reaches Settlement with Bahamian Liquidators

Resolution allows customers to choose repayment source, streamlines asset recovery and repayment process.

Bankrupt crypto exchange FTX has reached a settlement with Bahamian liquidators, resolving a dispute over the precedence of the company's US bankruptcy proceedings over the Bahamian liquidation.
The agreement allows most customers of FTX's international crypto exchange to choose whether to seek repayment from either the US bankruptcy or the Bahamian liquidation.
FTX's US-based bankruptcy team will lead asset recovery efforts, including any potential sale of the FTX.com exchange or its intellectual property.
The Bahamian liquidators will be responsible for selling real estate assets in the Bahamas and pursuing certain litigation claims.
FTX has committed to using at least 90% of its assets to repay customers, planning to pay them back in US dollars, rather than in cryptocurrency.